"We made continued progress on our path to profitability in the first
quarter, improving operational efficiency while managing transitions on
multiple fronts," said Kevin Mandia, FireEye chief executive officer.
"We met or exceeded our guidance ranges on all financial metrics, and
achieved significant milestones on our product roadmap, including the
general availability of the FireEye Helix platform and a new release of
our next generation HX endpoint solution."

"We continue to drive innovation in the security industry -- leveraging
our unique combination of technology, intelligence, and expertise -- and
this has enabled us to move forward with a product strategy that is
aligned with our customers' priorities, including cloud migration,
endpoint upgrades, and improved analytics for more efficient security
operations," added Mandia. "The Helix platform combines our network and
endpoint detection and prevention technologies, our award-winning MVX
engine, FireEye iSIGHT intelligence and cloud-based analytics in an
end-to-end detection and response platform designed to simplify,
integrate, and automate security operations. This new offering --
combined with our progress expanding our customer base, improving our
channel relationships, and strengthening our management team -- creates
a solid foundation for the future. I believe we have the focus and the
resources necessary to achieve our targets for renewed growth in the
second half of 2017 and balanced growth and profitability in the future."

First Quarter 2017 Financial Results

Revenue of $173.7 million, an increase of 3 percent from the first
quarter of 2016 and above the guidance range of $160 to $166 million.

Billings of $152.4 million, a decrease of 18 percent from the first
quarter of 2016 and above the guidance range of $130 to $150 million.1

GAAP gross margin of 63 percent, compared to 57 percent in the first
quarter of 2016.

Non-GAAP gross margin of 73 percent, compared to 70 percent in the
first quarter of 2016 and above the guidance of approximately 70
percent.1

GAAP operating margin of negative 41 percent, compared to negative 93
percent in the first quarter of 2016.

Non-GAAP operating margin of negative 7 percent, compared to negative
44 percent in the first quarter of 2016 and better than the guidance
range of approximately negative 24 percent to negative 26 percent of
revenue.1

GAAP net loss per share of $0.48, compared to a GAAP net loss per
share of $0.98 in the first quarter of 2016.

Non-GAAP net loss per share of $0.09, compared to a non-GAAP net loss
per share of $0.47 in the first quarter of 2016 and better than the
guidance range of $0.26 to $0.28.1

Cash flow from operations of negative $17.0 million, compared to cash
flow from operations of negative $22.5 million in the first quarter of
2016 and better than the guidance range of negative $30 to negative
$40 million.

"We demonstrated significant improvement in efficiency in the first
quarter by reducing our non-GAAP operating loss by $60 million, compared
to the first quarter of 2016," said Frank Verdecanna, FireEye executive
vice president and chief financial officer. "Our first quarter results
give us confidence in our ability to achieve non-GAAP operating income
in the fourth quarter of 2017 and positive operating cash flow for the
year," added Verdecanna.

1 A reconciliation of GAAP to non-GAAP financial measures is
provided in the financial statement tables included in this press
release. An explanation of these measures is also included under the
heading "Non-GAAP Financial Measures."

Second Quarter and Updated 2017 Outlook

FireEye provides guidance based on current market conditions and
expectations.

Cash flow from operations of negative $17 million to negative $27
million.

Non-GAAP net loss per share for the second quarter assumes interest
expense of approximately $3.0 million associated with the company's
convertible senior notes, provision for income taxes of between $1.0 and
$1.5 million, and weighted average shares outstanding of approximately
176 million.

For 2017, FireEye currently expects:

Revenue in the range of $724 million to $736 million.

Billings in the range of $745 million to $775 million.

Positive non-GAAP operating income in the fourth quarter of 2017.

Non-GAAP net loss per share of $0.26 to $0.36.

Positive cash flow from operations of $1 to $10 million.

Capital expenditures between $40 and $50 million. Capital expenditures
expectations for 2017 include an estimated $22 million in capital
expenses associated with the expected move of the company's
headquarters from five separate buildings to a single building in
Milpitas in mid-2017.

Non-GAAP net loss per share for 2017 assumes interest expense of
approximately $12.1 million, paid semi-annually in June and December,
associated with the company's convertible senior notes, provision for
income taxes of between $5 and $6 million, and weighted average shares
outstanding of approximately 177 million.

Guidance for non-GAAP financial measures excludes stock based
compensation, amortization of intangible assets, non-cash interest
expense related to the company's convertible senior notes, and other
non-recurring expenses. A reconciliation of non-GAAP guidance measures
to corresponding GAAP measures is not available on a forward-looking
basis due to the uncertainty regarding, and the potential variability
of, the amounts of stock-based compensation expense, amortization of
intangible assets, and other non-recurring expenses that may be incurred
in the future. Stock-based compensation expense is impacted by the
company's future hiring and retention needs, as well as the future fair
market value of the company's common stock, all of which is difficult to
predict and subject to constant change. The actual amount of stock-based
compensation in the second quarter of 2017 will have a significant
impact on the company's GAAP operating margin and net loss per share.
Accordingly, a reconciliation of the non-GAAP financial measure guidance
to the corresponding GAAP measures is not available without unreasonable
effort.

Conference Call Information

FireEye will host a conference call today, May 2, 2017, at 5 p.m.
Eastern time (2 p.m. Pacific time) to discuss its first quarter
financial results and the company's outlook for the second quarter and
full year 2017. Interested parties may access the conference call by
dialing 877-312-5521 (domestic) or 678-894-3048 (international). A live
audio webcast of the call, as well as related multi-media content, can
be accessed from the Investor Relations section of the company's website
at http://investors.fireeye.com.
An archived version of the webcast will be available at the same website
shortly after the conclusion of the live event.

These forward-looking statements involve risks and uncertainties, as
well as assumptions which, if they do not fully materialize or prove
incorrect, could cause FireEye's results to differ materially from those
expressed or implied by such forward-looking statements. The risks and
uncertainties that could cause FireEye's results to differ materially
from those expressed or implied by such forward-looking statements
include customer demand and adoption of FireEye's products and services;
real or perceived defects, errors or vulnerabilities in FireEye's
products or services; any delay in FireEye's release of products or
services; FireEye's ability to react to trends and challenges in its
business and the markets in which it operates; FireEye's ability to
anticipate market needs or develop new or enhanced products and services
to meet those needs; the ability of FireEye and its acquired companies
to successfully integrate their respective market opportunities,
technology, products, personnel and operations; FireEye's ability to
hire and retain critical executives and key employees; FireEye's ability
to attract new and retain existing customers and train its sales force;
the budgeting cycles, seasonal buying patterns and length of FireEye's
sales cycle; risks associated with FireEye's rapid growth; the ability
of FireEye and its partners to execute their strategies, plans,
objectives and expected investments with respect to FireEye's
partnerships; and general market, political, economic, and business
conditions, as well as those risks and uncertainties included under the
captions "Risk Factors" and "Management's Discussion and Analysis of
Financial Condition and Results of Operations" in FireEye's Form 10-K
filed with the Securities and Exchange Commission on February 24, 2017,
which should be read in conjunction with these financial results and is
available on the Investor Relations section of FireEye's website at
investors.fireeye.com and on the SEC website at www.sec.gov.

All forward-looking statements in this press release are based on
information available to the company as of the date hereof, and FireEye
does not assume any obligation to update the forward-looking statements
provided to reflect events that occur or circumstances that exist after
the date on which they were made. Any future product, service, feature,
or related specification that may be referenced in this release is for
informational purposes only and is not a commitment to deliver any
offering, technology or enhancement. FireEye reserves the right to
modify future product or service plans at any time.

Non-GAAP Financial Measures

In this release FireEye has provided financial information that has not
been prepared in accordance with generally accepted accounting
principles in the United States (GAAP). These non-GAAP financial
measures are not based on any standardized methodology and are not
necessarily comparable to similar measures used by other companies. The
company uses these non-GAAP financial measures internally in analyzing
its financial results and believes that the use of these non-GAAP
financial measures is useful to investors as an additional tool to
evaluate ongoing operating results and trends, and in comparing the
company's financial results with other companies in its industry, many
of which present similar non-GAAP financial measures.

Non-GAAP financial measures are not meant to be considered in isolation
or as a substitute for comparable financial information prepared in
accordance with GAAP, and should be read only in conjunction with the
company's consolidated financial statements prepared in accordance with
GAAP. A reconciliation of the company's non-GAAP financial measures to
their most directly comparable GAAP measures has been provided in the
financial statement tables included in this press release, and investors
are encouraged to review the reconciliation.

Billings. FireEye defines billings as revenue recognized plus the
change in deferred revenue from the beginning to the end of the period.
FireEye also excludes deferred revenue assumed in connection with
acquisitions. The company considers billings to be a useful metric for
management and investors because billings drive deferred revenue
balances, which are an important indicator of the health and visibility
of the company's business. Revenue recognized from deferred revenue
represents a significant percentage of quarterly revenue. There are a
number of limitations related to the use of billings versus revenue
calculated in accordance with GAAP. First, billings include amounts that
have not yet been recognized as revenue. Second, FireEye's calculation
of billings may be different from other companies in its industry, some
of which may not use billings, may calculate billings differently, may
have different billing frequencies, or may use other financial measures
to evaluate their performance, all of which could reduce the usefulness
of billings as a comparative measure. FireEye compensates for these
limitations by providing specific information regarding GAAP revenue and
evaluating billings together with revenue calculated in accordance with
GAAP.

Non-GAAP net loss and net loss per share in the first quarter of 2017
excluded stock-based compensation expense, amortization of intangible
assets, non-cash interest expense related to the convertible senior
notes issued in June 2015, and change in fair value of contingent
earn-out liability. Non-GAAP net loss and net loss per share for the
first quarter of 2016 excluded stock-based compensation expense,
amortization of intangible assets, acquisition expenses, restructuring
charges, non-cash interest expense related to the convertible senior
notes issued in June 2015, and non-recurring benefit from income taxes.

FireEye considers these non-GAAP financial measures to be useful metrics
for management and investors because they exclude the effect of
stock-based compensation expense, amortization of intangible assets,
acquisition related expenses, non-cash interest expense related to the
company's convertible senior notes, change in fair value of contingent
earn-out liability, restructuring charges, and other non-recurring and
discrete items so that management and investors can compare the
company's core business operating results, over multiple periods.

There are a number of limitations related to the use of these non-GAAP
financial measures versus their nearest GAAP equivalents. First, these
non-GAAP financial measures exclude stock-based compensation expense.
Stock-based compensation expense has been and will continue to be for
the foreseeable future a significant recurring expense in the company's
business. Stock-based compensation is an important part of FireEye
employees' overall compensation. Second, the components of the costs
that FireEye excludes in its calculation of these non-GAAP financial
measures, including not only stock-based compensation but also
non-recurring items such as acquisition related expenses, amortization
of intangible assets, non-cash interest expense related to the company's
convertible senior notes, change in fair value of contingent earn-out
liability, restructuring charges, and discrete tax benefits, may differ
from the components excluded by peer companies when they report their
non-GAAP results of operations. FireEye compensates for these
limitations by providing specific information regarding the GAAP amounts
excluded from non-GAAP financial measures and evaluating non-GAAP
financial measures together with their nearest GAAP equivalents.

About FireEye, Inc.

FireEye is the intelligence-led security company. Working as a seamless,
scalable extension of customer security operations, FireEye offers a
single platform that blends innovative security technologies,
nation-state grade threat intelligence, and world-renowned Mandiant®
consulting. With this approach, FireEye eliminates the complexity and
burden of cyber security for organizations struggling to prepare for,
prevent, and respond to cyber attacks. FireEye has over 5,800 customers
across 67 countries, including more than 40 percent of the Forbes Global
2000.